BASHEER AHAMED Vs. COMMISSIONER OF INCOME TAX-II

JUDGEMENT

(1.) BEING aggrieved by dismissal of his appeal in I.T.A.No.101 of 2009 (30.10.2009), assessee has preferred this appeal. The Tax Case (Appeal) was admitted on the following substantial question of law: -

(2.) THE assessee was the owner of a vacant plot measuring 4800 sq. ft. in Old R.S.No.466, New R.S.No.396/1A at Letchathoppu village, Thanjavur Taluk, Thanjavur District. The assessee sold the said property under sale deed dated 21.08.2000 for a sum of Rs.2,33,760/ - to A. Helan and M. Meena, who were both partners of M/s.Marble World, a partnership firm at Thanjavur.

(3.) IN the appeal filed by the assessee, the Commissioner of Income Tax (Appeals) confirmed the order of Assessing Officer by observing that the purchaser had admitted to have paid sale consideration of Rs.6,48,000/ - for purchase of the property. In the further appeal filed by the assessee, the Tribunal highlighted three aspects and most importantly, the amount of Rs.6,48,000/ - has been accepted as the purchaser's investment in her income tax assessment. Tribunal further held that "it would be an anomaly if in the case of purchaser the sale consideration of Rs.6,48,000/ - is accepted and it is not accepted in the case of the seller".